Shaw and Partners is going to need a few more desks in its Sydney office.

Street Talk understands the stockbroking and advisory firm has raided Wilsons' private wealth arm, snaring five advisers and three support staff in one fell swoop.

It is understood wealth advisers Brendan Gleeson, Peter Simpson, Stephen Thomas, Andrew Wawn and Basil Bryne-Smith have all jumped ship to Shaws, as well as support staffers Michelle Muller, Luke King and Barton Lynch.

The team, on average, have been at Wilsons for ten years and it is understood were generating about $7 million annual revenue between them for the Brad Gale-helmed firm.

They will join Shaws' rapidly-expanding private wealth team, which has grown in the past five years to now manage $20 billion in assets, from $5 billion. It is understood the eight incoming operatives will all be based out of Shaws' Sydney office.

“Whenever you get top quality practitioners such as this group join your firm it really is a privilege and something we never take for granted," Shaws co-ceo Earl Evans told this column.

"We are thrilled to have them join Shaw and Partners.”

The new hires come two months since ex-Ord Minnett operatives Candice Bourke and Felicity Thomas joined Shaws as senior private wealth advisers.

Article source: AFR, 18 November 2020